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• The interim results for the half year to 30 September 2011 mark the mid-point of the five-year settlement running to 2014.
• Network Rail remains broadly on course to meet its tough efficiency challenge and thus its commitment to drive down the cost of the railway.
• Network Rail’s running costs are, in real terms, over £300m lower in the first six months of the financial year than the prevailing costs back in 2008-9, when the efficiency challenge was set. The forecast is to achieve over £700m of savings by the end of the year.

Rail Delivery Group